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putting more pressure on house republicans to either pass the senate compromise on the fiscal cliff or kick the effort down the road to next congress. >>> it is a day of mourning in the ivory coast. and new year's celebration turned tragic early this morning when thousands tried to leave a fireworks show. more than 60 people were killed in the stampede. hundreds of others were injured. police say that most of the victims were children. a witness told reporters security forces showed up and tlig triggered panic. fireworks show was supposed to celebrate peace in the nation. >>> all flights in and out of syria's largest city are canceled tonight after clashes between the military and rebel forces. rebel leaders threatened to target all aircraft. they believed the syrian government is using commercial craft to bring in weapons. fighting intensified today in damascus suburb. syrian military claims to have killed rebels during an air attack there. today the president of the syrian council called on other countries to help in the rebel cause. >> i hope that the community -- exactly what has b
putting more pressure on house republicans to either pass the senate compromise on the fiscal cliff or kick the effort down the road to next congress. >>> it is a day of mourning in the ivory coast. and new year's celebration turned tragic early this morning when thousands tried to leave a fireworks show. more than 60 people were killed in the stampede. hundreds of others were injured. police say that most of the victims were children. a witness told reporters security forces showed up...
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the fiscal cliff. the capital-gains taxs. there is no compelling reason to buy over the next two to three months. let some of this pass, use your assets in other places. raise some cash. then you will be in a much better position to make yourself a lot of money once 2013 starts. melissa: the thing all of your ideas have in common this idea of hungering down and having this investment over a long period of time. why wouldn't you hunker down within the stock market? because you have to give president obama credit that, you know, whether it has been because of the fed and easy money or whhtever it has been the stock market has done well. would you buy some favorite stocks and just plan on holding them through the entire next four years? >> you know i have always been an advocate of buying stocks that pay high dividends but the dividend taxes going from 15% up to 40 and that take as huge wind out of the sails for that argument. so, you know the timing is everything. timing was good to buy stocks at the beginning of obama. now not
the fiscal cliff. the capital-gains taxs. there is no compelling reason to buy over the next two to three months. let some of this pass, use your assets in other places. raise some cash. then you will be in a much better position to make yourself a lot of money once 2013 starts. melissa: the thing all of your ideas have in common this idea of hungering down and having this investment over a long period of time. why wouldn't you hunker down within the stock market? because you have to give...
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we want to go back to your calls, i hear your voice is on what is going on with the fiscal cliff. our next call is from esther in harrison, arkansas. democrat. caller: i do not know about this worry and concern. it seems like the congressmen and senators, they just want their way and yet the republicans do not seem to have learned the country spoke when they reelected obama. they are still trying to fight for what they want themselves. i wonder what this country's going to come to in the next election. i am worried about the democrat and republican party. we do not know what the changes would be. another thing is the billions of dollars they are spending overseas trying to fight the war over there. they are financing billions, i believe to understood, it is that expensive. lives are being lost. i know it sounds reasonable to some people. you take people that do not care to die, like a lot of those suicide bombers, you cannot get rid of all of the terrorists. they are a country that is mixed up. i am concerned for the world. poor people do not seem to get a chance. the wealthy need
we want to go back to your calls, i hear your voice is on what is going on with the fiscal cliff. our next call is from esther in harrison, arkansas. democrat. caller: i do not know about this worry and concern. it seems like the congressmen and senators, they just want their way and yet the republicans do not seem to have learned the country spoke when they reelected obama. they are still trying to fight for what they want themselves. i wonder what this country's going to come to in the next...
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house majority leader harry kantor is against the senate fiscal cliff deal, multiple members say. one reason he may be against it is because the new cbo report came out where it says this bill adds about $4 trillion over the next nine years to the deficit. there's about $330 billion in new spending as well, so that may be playing into what is going on the hill right now. we will be live all afternoon and evening until and if and and of something happens. fred in missouri, democratic line. you have been holding. thank you for your patience. guest: first and foremost, happy new year. the time for cutting social security and medicare entitlements, let's cut attached -- tax deductions on people making $200,000 and up to we can have a jobs for this country like we need them, in infrastructure, education, aerospace, alternative energy, research, development. the list goes on. host: that was bred in misery. next up is still, republican line, minnesota. -- phil. guest: as a republican i believe we need to pass the obama tax bill and then once we get to the ceiling of the debt we would the
house majority leader harry kantor is against the senate fiscal cliff deal, multiple members say. one reason he may be against it is because the new cbo report came out where it says this bill adds about $4 trillion over the next nine years to the deficit. there's about $330 billion in new spending as well, so that may be playing into what is going on the hill right now. we will be live all afternoon and evening until and if and and of something happens. fred in missouri, democratic line. you...
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. >>> if the house manages to pass the senate bill on avoiding the fiscal cliff and that remains a big if it will represent just the tip of the iceberg when it comes to the economic challenges facing the president and congress over the next several years. rick newman is chief business correspondent for u.s. news and world report and the author of "rebounders." how winners pivot back to success. welcome. thank you for joining me. >> hi, mara. >> before we get to the battles ahead who is the rebounder in the senate deal? >> well, mitch mcconnell looks pretty good. this is the guy who said his main objective prior to 2012 was getting president obama unelected. that didn't happen obviously. he just looked like an obstructionist. now he is playing a productive role getting some things done for the nation. >> now, it looks like in this deal the senate bill punts a lot of things down the road and we could see a debt ceiling debate in the near future. >> yes. >> how can we avoid the kind of brinksmanship we've just seen in the issues we've got moving forward? >> i'm not sure we can avoid it. t
. >>> if the house manages to pass the senate bill on avoiding the fiscal cliff and that remains a big if it will represent just the tip of the iceberg when it comes to the economic challenges facing the president and congress over the next several years. rick newman is chief business correspondent for u.s. news and world report and the author of "rebounders." how winners pivot back to success. welcome. thank you for joining me. >> hi, mara. >> before we get to...
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just a couple of hours from now the house will meet, they'll vote on the fiscal cliff deal perhaps that was passed in the senate in the predawn hours this morning. we'll have the very latest from washington, d.c., that's coming up next. >>> and then there's this -- >> put your damn seat belt on. pull it over! heather: yeah. remember that guy? the guy trying to make a citizen's arrest of a cop? ahead, the best caught-on-tape moments of 2012. heather: fiscal cliff. fallout. house speaker john boehner and majority leader eric cantor have just arrived at capitol hill where all eyes are on the house. as we await act on the bill that passed by the senate early this morning and averts across the board tax hikes and massive spending cuts set to kick in today. brand new hour of "america's newsroom." thank you for joining us. i'm heather childers in for martha maccallum. rick: i'm rick folbaum in for jon. happy new year. >> you will stick it to the rich people. but guess what? you may not get anymore revenue and anymore economic growth but you can say i stuck it to the rich people. >> i'm dis.ed
just a couple of hours from now the house will meet, they'll vote on the fiscal cliff deal perhaps that was passed in the senate in the predawn hours this morning. we'll have the very latest from washington, d.c., that's coming up next. >>> and then there's this -- >> put your damn seat belt on. pull it over! heather: yeah. remember that guy? the guy trying to make a citizen's arrest of a cop? ahead, the best caught-on-tape moments of 2012. heather: fiscal cliff. fallout. house...
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. >> reporter: the fiscal cliff was incentive to try to deal with deficit reduction. this is dismantling the consequence of dealing with the bigger issue. the bigger issue is still going to be with us in the next couple months because now as the debt ceiling is set to hit, this will all come into play. republicans aren't going to budge on increasing the debt ceiling until they get some of the things they want on deficit reduction. they want tax reform. so do democrats want tax reform but they have different ideas about how to do it it. it's kicking the can down the road. there will be a lot more ahead on this. >> brianna keilar breaking it down for us at the white house. thanks for that. >>> eight senators voted against this compromised measure, but the opposition didn't fall along party lines. tom harkin, tom krarner and michael bennett all voted now. so did these five republicans. let's put the politics to the side for a minute and ask the question most of us are wondering. what does this measure mean for you and your wallet? ali velshi is crunch iing the numbers. >
. >> reporter: the fiscal cliff was incentive to try to deal with deficit reduction. this is dismantling the consequence of dealing with the bigger issue. the bigger issue is still going to be with us in the next couple months because now as the debt ceiling is set to hit, this will all come into play. republicans aren't going to budge on increasing the debt ceiling until they get some of the things they want on deficit reduction. they want tax reform. so do democrats want tax reform but...
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. >> john boehner is not endorsing the agreement on the so-called fiscal cliff. he has promised to vote on it right away. he is expected to encounter opposition. one camp earlier said, "it's three strikes in my book and i will be voting no on this bill." the legislation would impose a hardship and fall short on addressing the need in spending. president obama praised the agreements. coats to place on the other side of the capital on issues other than the so-called fiscal cliff. -- votes took place on the other side of the capital. extra cash for the fight against al qaeda and the fight against foreign governments trying to spy on the united states. mike rogers said the bill holds personnel levels at last year's level. dutch ruppersberger said the bill invests in programs that are working and cuts things that are not. the house meets today at noon eastern. watch the house live on c-span tv. those are some of the latest headlines on c-span radio. [video clip] >> a lot of people that i know looking back on the last 40 years will say that ever since apollo, the space
. >> john boehner is not endorsing the agreement on the so-called fiscal cliff. he has promised to vote on it right away. he is expected to encounter opposition. one camp earlier said, "it's three strikes in my book and i will be voting no on this bill." the legislation would impose a hardship and fall short on addressing the need in spending. president obama praised the agreements. coats to place on the other side of the capital on issues other than the so-called fiscal cliff....
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technically america went over the fiscal cliff a couple hours ago, but despite the near crisis, our next guest says the president could come out of this a winner. >> steve: good morning to you. >> good morning. >> steve: the senate has passed this. now it goes to the house. we don't know if they're going to take it up today or when. technically we have sailed off the fiscal cliff. the big question is, what's the house going to do? >> i think they're going to pass it. you have to remember the house could not pass plan b, which was john boehner's plan to raise taxes on people who make a million dollars. so how in the world would they pass something that's even less than half that, raise taxes on people before 50? you have to remember, all the attention was paid to those republicans who blocked that planned deal. there is 240 republicans in the house. about 40 of them stopped it, which means there were 200 republicans who were ready to vote for plan b. some number of those are going to be ready to vote for this. if john boehner adds their votes to the democrats, i mean, the democrats have g
technically america went over the fiscal cliff a couple hours ago, but despite the near crisis, our next guest says the president could come out of this a winner. >> steve: good morning to you. >> good morning. >> steve: the senate has passed this. now it goes to the house. we don't know if they're going to take it up today or when. technically we have sailed off the fiscal cliff. the big question is, what's the house going to do? >> i think they're going to pass it. you...
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the ap is reporting that the white house and gop leaders have reached a deal on the fiscal cliff. the vote on the measure will be the next step followed by action by the u.s. house of representatives. in a return on tuesday at noon th eastern.e ut senar f senatef iowa. mr. harkin: mr. president, in the last few decades, real middle-class families in america -- i say real middle-class, making $30,000, $440,000, not $400,000 a year, have steen season their jobs being more insecure, their wages stagnate, in fact, their income adjusted for inflation is less than it was in the late 1990's. their savings and pensions have shrunk or disappeared, the cost of education has soared, at the same time the wealthiest americans and large corporations grow ever richer and pay less and less in taxes. for example, take dividends. prior to 2003, dividends were always taxed as ordinary income. but now they're taxed at a less rate, at the capital gains rate. income of hedge fund managers are taxed at a lower rate than middle-class families, so-called carry interest rule. the share of our nation's weal
the ap is reporting that the white house and gop leaders have reached a deal on the fiscal cliff. the vote on the measure will be the next step followed by action by the u.s. house of representatives. in a return on tuesday at noon th eastern.e ut senar f senatef iowa. mr. harkin: mr. president, in the last few decades, real middle-class families in america -- i say real middle-class, making $30,000, $440,000, not $400,000 a year, have steen season their jobs being more insecure, their wages...
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cliff. >> hey. good to be back. >> just give me a quick overview of how you think this is going to go in the next hours and couple of days. >> it's looking good in the senate. it's democrats look like they're all on board. looks like mitch mcconnel has republicans on board. it needs to pass with large margin. the big question mark is the house. john ba john baoehner has had this marker. he said no to his own plan b bill that had the tax rates going up for those over a million dollars. there's no question will be republican defections in the house. can he keep together a ma jorjo of his caucus. the house republicans have been so unpredictable that i couldn't wager a guess on that. i would think they want to take this deal and live to fight another day but you just don't flow until you see the votes come through. >> i'm sure you just overhead my conversation. john boehner is in really tough spot. talk about your thoughts on what he's got to be doing as far as the dance to please members of his party a
cliff. >> hey. good to be back. >> just give me a quick overview of how you think this is going to go in the next hours and couple of days. >> it's looking good in the senate. it's democrats look like they're all on board. looks like mitch mcconnel has republicans on board. it needs to pass with large margin. the big question mark is the house. john ba john baoehner has had this marker. he said no to his own plan b bill that had the tax rates going up for those over a million...
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we will ten to keep you covered thing fiscal cliff ander and all things watch and around the world as we always do. fair. balanced. captioned by closed captioning services, inc. a new city to explore. >>. >> because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee their low prices. so, where to next? how about there? ♪ h-o-t-w-i-r-e... ♪ hotwire.com
we will ten to keep you covered thing fiscal cliff ander and all things watch and around the world as we always do. fair. balanced. captioned by closed captioning services, inc. a new city to explore. >>. >> because they get us ridiculously low prices on really nice hotels and car rentals. so we hit boston in the spring-- even caught a game. and with the money we saved, we took a trip to san francisco. you see, hotwire checks the competitions' rates every day so they can guarantee...
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, continued for the next year, plus the sequester expiring yet again, plus the debt ceiling, all of that coming due at the same time. so if it makes it seem small. but they're blessing everything here. so you're going to get a majority of democrats supporting it in the senate and a majority of republicans supporting it in the house. the question is what is the number of republicans that go on. by the way, there is almost no chance they can vote before midnight tonight. just logistically, they have to write the bill. they have to do some the physical things that are just -- and they have to sign at least a certain amount of time to debate the bill, let people speak about it, et cetera. the earliest we're going to see a vote is probably 2:00 or three income the morning there is a chance 245 the senate will say you know what? we're going to come back at 10:00 in the morning. so i'm just preparing folks for that if they're wondering what is going to happen first, the ball dropping in times square or washington dropping the ball on their own, if you will. pun was intended there, by the way. b
, continued for the next year, plus the sequester expiring yet again, plus the debt ceiling, all of that coming due at the same time. so if it makes it seem small. but they're blessing everything here. so you're going to get a majority of democrats supporting it in the senate and a majority of republicans supporting it in the house. the question is what is the number of republicans that go on. by the way, there is almost no chance they can vote before midnight tonight. just logistically, they...
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unless something drastic changes in the next five hours, america will be going over the fiscal cliff. we do know that after intense negotiations between senate minority leaders, let me show you the highlights. $600 billion in revenue will be raised over the next decade through a series of raises on taxes for the wealthiest americans. and those rates would also carry over for couples making under 450,000. any income above those two numbers would be taxed at 39.6 pnt. the top tax rate under president clinton. and capital gains taxes above those amounts would be increased to 20%, that is up from 15%. this tax deal would also create a perm naanent fix for the alternative minimum tax and extend unemployment insurance for 2 million americans. the president made it clear what his top priority is in any deal. >> preventing that tax hike has been my top priority. because the last thing folks like the folks up here on the stage can afford right now is to pay an extra $2,000 in taxes next year. middle class families can't afford it. businesses can't afford it. our economy can't afford it. >> jus
unless something drastic changes in the next five hours, america will be going over the fiscal cliff. we do know that after intense negotiations between senate minority leaders, let me show you the highlights. $600 billion in revenue will be raised over the next decade through a series of raises on taxes for the wealthiest americans. and those rates would also carry over for couples making under 450,000. any income above those two numbers would be taxed at 39.6 pnt. the top tax rate under...
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the result, find out next. >> bret: no grapevine. top story, fiscal cliff is going over it. the senate majority leader, not moved the bill to the senate floor yet. the house would only deal with whatever passed the senate. if it passed the senate at all. all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that target the rich ma
the result, find out next. >> bret: no grapevine. top story, fiscal cliff is going over it. the senate majority leader, not moved the bill to the senate floor yet. the house would only deal with whatever passed the senate. if it passed the senate at all. all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals...
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is, is going over that so-called fiscal cliff. we'll see what happens over the next few hours. tom foreman, thank you. much more on the fiscal cliff coming up. >>> there are serious ramifications for almost every american involved in this negotiati negotiation. we'll update when when we come back. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> okay, we've got the breaking news we're following here in washington. we've been thinking about it. we've been talking about it for a long time. guess what, the united states is now going over the so-called fiscal cliff. that's becau
is, is going over that so-called fiscal cliff. we'll see what happens over the next few hours. tom foreman, thank you. much more on the fiscal cliff coming up. >>> there are serious ramifications for almost every american involved in this negotiati negotiation. we'll update when when we come back. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and...
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the election bared that out and passing the fiscal cliff and looks like we will have kind of another temporary crisis in the next month or three months, they again have to fight the stereotypes and label that is built up. >> one of those jumped out at me. maybe run it by you. for the democrats, the argument of don't offend gun owners and manners, you don't want to offend anybody needlessly, a voter or group. i get that. you point to the example of the 2000 election and say al gore lost maybe the presidency because of maybe gun ownership and so much the map changed that the votes to win a national election, to win statewide election for democrats now -- gore lost kentucky, missouri, wf w6, his ohm state of tennessee and where the gun issue's hurt him. those are republican states. democrats have taken a decade off on gun control and haven't made any headway with gun owners and still voting as reliably republican now than maybe more so. isn't the lesson it's okay to be easy on gun control? >> i don't think so. people that voting for president obama because of the auto bailout might have
the election bared that out and passing the fiscal cliff and looks like we will have kind of another temporary crisis in the next month or three months, they again have to fight the stereotypes and label that is built up. >> one of those jumped out at me. maybe run it by you. for the democrats, the argument of don't offend gun owners and manners, you don't want to offend anybody needlessly, a voter or group. i get that. you point to the example of the 2000 election and say al gore lost...
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please tune in. >> next, fiscal cliff will have a major effect on america's manufacturers. we will talk to two ceos, nation's backbone is bracing for this impact. >> later on, there were big stock winners this year. but should you buy those studs or take a flyer and go with the duds? we will debate it coming up. i wasn't pointing alt at you. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> now we do go over the cliff and let's hope we get a deal for the last minute that we will stop that from happening. the impact will be felt in just about every aspect of the u.s. economy, especially u.s. manufacturing. let's bring it n president of power systems. also david watham. they
please tune in. >> next, fiscal cliff will have a major effect on america's manufacturers. we will talk to two ceos, nation's backbone is bracing for this impact. >> later on, there were big stock winners this year. but should you buy those studs or take a flyer and go with the duds? we will debate it coming up. i wasn't pointing alt at you. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500...
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. >>> more on our special coverage of the fast moving negotiations over the fiscal cliff. up next, hear why one high profile democrat says going over the cliff would be good for the stock market. and your 401(k). check this out. >>> a compromise on the estate tax may be part of a last minute deal in the fiscal cliff. we're talking about how much money you can leave for your loved ones after you die. republicans want to extend the current estate tax that tops out at 35% and affects the states. the outline of the deal that just has been floated together would set the estate tax at 40% and the threshold at $5 million. let's bring christine romans in to make sense out of all of this. what do the numbers mean to real people? >> what it means, it is a victory politically for republicans and it means many republicans have said for a small business owner, small family farmers, people who have worked hard and amassed an estate, it means that they won't have to pay much more than they currently do for an estate tax. this is a true compromise here. because this is w
. >>> more on our special coverage of the fast moving negotiations over the fiscal cliff. up next, hear why one high profile democrat says going over the cliff would be good for the stock market. and your 401(k). check this out. >>> a compromise on the estate tax may be part of a last minute deal in the fiscal cliff. we're talking about how much money you can leave for your loved ones after you die. republicans want to extend the current estate tax that tops...
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ashley: the fiscal cliff is the big story. that is not the only thing that could mean major changes for you and your wallet next year. changes for healthcare. that is coming up next. shibani: we are also waiting for the president's remarks live from the white house. we will bring them to you live. ♪ droid dna augmentation initiated. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolng with beats audio. wireless charging activated. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. the 952013 kicks off, affordable care act will be front and center. we know there will be an eventful year. what are some of the biggest things we need to keep an eye on >> the biggest thing is the affordable care act. the obama administration sees this as the key here for getting it implemented. there is a problem with that, though. most of the governors do not want to participate. ashley: if they do not participate, does that mean the federal government comes in a
ashley: the fiscal cliff is the big story. that is not the only thing that could mean major changes for you and your wallet next year. changes for healthcare. that is coming up next. shibani: we are also waiting for the president's remarks live from the white house. we will bring them to you live. ♪ droid dna augmentation initiated. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolng with beats audio. wireless charging activated. introducing droid dna...
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remarks on the fiscal cliff. good afternoon to you, chris. >> hello, joy. thank you very much. coming up, are we close to a deal? president obama will speak in about 30 minutes. we'll have it live. also joining us delaware senator chris kuhns, jack kingston and maryland democratic congressman elijah cummings talking about the cliff and the deal, maybe. we're also live at new york's presbyterian hospital with the latest on secretary of state hillary clinton's condition. andrea mitchell reports is next. we can afford to take an extra trip this year. first boston... then san francisco. hotwire checks the competitions' rates every day so they can guarantee their low prices. so our hotels were half price. ♪ h-o-t-w-i-r-e... ♪ hotwire.com
remarks on the fiscal cliff. good afternoon to you, chris. >> hello, joy. thank you very much. coming up, are we close to a deal? president obama will speak in about 30 minutes. we'll have it live. also joining us delaware senator chris kuhns, jack kingston and maryland democratic congressman elijah cummings talking about the cliff and the deal, maybe. we're also live at new york's presbyterian hospital with the latest on secretary of state hillary clinton's condition. andrea mitchell...
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same thing with the fiscal cliff. >> josh brown? >> hey, bill, i read most of your commentary and it seems to me that you tend to be a lot more positive on the prospects for things like emerging market debt. i'll curious if that extends to emerging market stocks as well and in either emerging stocks or debt should we be thinking about high-grade corporate, the bricks, not the bricks, could you give us kind of the road map of where you think best values are overseas? >> sure. i think the developing markets, the emerging market terminology is really a misnomer. many of these economies, talking about brazil, mexico and others, have half the debt that the united states has. they have a very underdeveloped consumer economy and therefore the potential to expand. they have higher reserves in dollar terms than many developed countries. and so developing, emerging, i think investors have to go where the growth is if they are looking for risk assets, whether it be in corporate bonds or in equities. and going to these countries is symptom atti
same thing with the fiscal cliff. >> josh brown? >> hey, bill, i read most of your commentary and it seems to me that you tend to be a lot more positive on the prospects for things like emerging market debt. i'll curious if that extends to emerging market stocks as well and in either emerging stocks or debt should we be thinking about high-grade corporate, the bricks, not the bricks, could you give us kind of the road map of where you think best values are overseas? >> sure. i...
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by thoughts on the fiscal cliff are, why don't we just let the bush tax cuts expired? host: on that point, where would you draw the line in terms of the middle class americans? the president said $250,000, but that threshold could now be $450,000. caller: i came from a pretty upper in the family. but i do not consider -- $60,000, $70,000 -- that is pushing at. $90,000? no, no. that is not middle-class. you are making more than triple what some of your average americans make in the year. host: ok. republican line. caller: thank you. i just want to respond to tom harkin's comments. the housing market is largely responsible for the mess we're in right now. they voted not to pay taxes on $100,000 worth of gains every two years and extended mortgages to people who never in the history of our country could have afforded a home, under the idea that everybody should be able to have a shot at the american dream. i really -- i am just upset. they hold out until the last day when they had all year to deal with these issues. now the passion and the i read attitudes of people are c
by thoughts on the fiscal cliff are, why don't we just let the bush tax cuts expired? host: on that point, where would you draw the line in terms of the middle class americans? the president said $250,000, but that threshold could now be $450,000. caller: i came from a pretty upper in the family. but i do not consider -- $60,000, $70,000 -- that is pushing at. $90,000? no, no. that is not middle-class. you are making more than triple what some of your average americans make in the year. host:...
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cheryl: my next guest does not see a fiscal cliff deal until late january, but the possible market turmoil to follow could create a stock buying opportunity. joining me now, global financial services president and portfolio manager. of course you'll see the glass half full on this one. yet been saying this since november, to be fair. >> taking the position that we don't think the politicians are really going to get anything done until the backs of firmly against the wall which will be after the first pay cycle of the new year. that's why we are expecting third week of january, but this is also an opportunity. we have to recognize that. if you look at the market today, just imagine. if you pull 20 investment professionals yesterday we probably would have said markets are going to be down today. better than expected economic news. cheryl: is trying to, but they're is a lot -- one of the best performing sectors of 2012 was financials. it would have predicted that at the beginning of 2012? is in that kind of hard for people to focus on what sectors for people to look at when you have this crow
cheryl: my next guest does not see a fiscal cliff deal until late january, but the possible market turmoil to follow could create a stock buying opportunity. joining me now, global financial services president and portfolio manager. of course you'll see the glass half full on this one. yet been saying this since november, to be fair. >> taking the position that we don't think the politicians are really going to get anything done until the backs of firmly against the wall which will be...
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we're keeping our eye on the senate back in session with the fiscal cliff talks now down to the wire. the big question is even if the senate reaches a deal as they continue the debate will republicans pass anything with tax hikes in the house? up next republican congressman tom cole. and baby makes three. kim kardashian and kanye west's big baby announcement. also, sydney, australia celebrating the new year just three hours ago with fireworks over the famous opera house. in new york city, an already crowded times square. people waking up there. our big question what is your new year's resolution for 2013? tweet me at richard lui. we'll share some of your comments later. >>> a live look at the markets which appear to be taking going over the fiscal cliff in stride. many people say it is built into the market. many investors are still confident leaders will strike some sort of deal as talks go down to the wire and even if they don't they are counting on senate majority leader harry reid to present a backup proposal to limit some of the damage. we're watching live pictures on the right-h
we're keeping our eye on the senate back in session with the fiscal cliff talks now down to the wire. the big question is even if the senate reaches a deal as they continue the debate will republicans pass anything with tax hikes in the house? up next republican congressman tom cole. and baby makes three. kim kardashian and kanye west's big baby announcement. also, sydney, australia celebrating the new year just three hours ago with fireworks over the famous opera house. in new york city, an...
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your new year's eve weather forecast next. >>> we're hours away from falling off the fiscal cliff. got your parachute handy? holiday cheer is in short supply on capitol hill as the search goes on for a last minute miracle. >> this will not affect the debt situation. it will be a political victory for the president. and i hope we'll have courage of our convictions when it comes to raise the debt ceiling fight what we believe as republicans. hats off to the president. he won. jon: victory for the president? senator lindsey graham joins us live next to tell us whether a deal might be in sight. gressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. >> the ohio river valley you have a spl
your new year's eve weather forecast next. >>> we're hours away from falling off the fiscal cliff. got your parachute handy? holiday cheer is in short supply on capitol hill as the search goes on for a last minute miracle. >> this will not affect the debt situation. it will be a political victory for the president. and i hope we'll have courage of our convictions when it comes to raise the debt ceiling fight what we believe as republicans. hats off to the president. he won. jon:...
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we'll see what they have in terms of a fiscal cliff. we have much more as we track this countdown. congressman steny hoyer, tom cole, steve israel all next. first a look at some people behind the scenes at msnbc. i hope you all have a very happy new year. >> happy holidays from "the daily rundown!" >> happy holidays. >> and have a very happy new year. >> happy holidays. >> happy holidays. >> happy new year from "andrea mitchell reports." >> merry christmas. >> merry christmas from "the cycle!" >> happy holidays from the "alex witt" team. >> happy holidays from "up with chris hayes." >> happy holidays! >> merry christmas. happy holidays. >> happy holidays from msnbc. >> happy holidays. >> merry christmas. happy holidays. >> happy holidays from the p.a.s. >> from all of us at msnbc, merry christmas and happy holidays. >> merry christmas. happy holidays. >> merry christmas. happy holidays, everybody. >> hello, team. what a wonderful 2012. i'm looking forward to a fantastic 2013. happy new year. >>> happy new year. the question today. are you ready to go cliff diving? breaking news top
we'll see what they have in terms of a fiscal cliff. we have much more as we track this countdown. congressman steny hoyer, tom cole, steve israel all next. first a look at some people behind the scenes at msnbc. i hope you all have a very happy new year. >> happy holidays from "the daily rundown!" >> happy holidays. >> and have a very happy new year. >> happy holidays. >> happy holidays. >> happy new year from "andrea mitchell reports."...
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. >> just the uncertainty, the fiscal cliff and how things are gonna pan out from these next few months. >> the increase on sales tax from prop 30 will last for four years. the god news for consumers, the sales increase does not apply to gas. >>> 8:24. let's go to tara right now. we have some problems on caltrain. what's going on? >> that's right. on the southbound 322 train we had an emergency break near brisbane due to signal problems. we'll keep you posted on whether it causes more widespread delays. 101 looking good. we do want to mention that muni, vta, caltrain and sam transare all offering free rides tonight. so be aware of it. b.a.r.t. also offering extended service. up next, the bay bridge, your commute into san francisco, a nice one. no delays at all. the metering lights never went on. 101 near san jose, northbound as you make your way to the air looking good. here's steve. >>> all right, tara. thank you very much. cold this morning. 20s, upper 20s -- 20ss, some 30s. that system coming in is losing a lot of its punch. 30s, livermore airport has just gotten a little bit of an d
. >> just the uncertainty, the fiscal cliff and how things are gonna pan out from these next few months. >> the increase on sales tax from prop 30 will last for four years. the god news for consumers, the sales increase does not apply to gas. >>> 8:24. let's go to tara right now. we have some problems on caltrain. what's going on? >> that's right. on the southbound 322 train we had an emergency break near brisbane due to signal problems. we'll keep you posted on...
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year regardless what happens today or over the next few days regarding the fiscal cliff. >> that's interesting. what would you be buying? i know you're a trading kind of guy, you're looking for dips, looking to buy on dips. >> right. >> what would you buy? >> well, there's nothing that i see that's attractive right now. i'm actually short the market and what i would like to see, to tell you the truth, a little rally caused by resolution of the fiscal cliff. there may be some stop gap measure, i think that the market will cling to that as a reason to stay the short-term rally and looking to sell stocks and short stocks into that rally. so i'm not really interested in buying some stocks right at this moment to tell you the truth. >> that's interesting. i just want to try to summarize for our general interest >> right. but you say it's not going to last. the underlying economic situation is bad, down we go on the stock market at some point, fairly soon. is that accurate? >> yeah, yeah, and i think you're seeing that in a lot of the stocks, in a lot of the underlying leadership that was leading ma
year regardless what happens today or over the next few days regarding the fiscal cliff. >> that's interesting. what would you be buying? i know you're a trading kind of guy, you're looking for dips, looking to buy on dips. >> right. >> what would you buy? >> well, there's nothing that i see that's attractive right now. i'm actually short the market and what i would like to see, to tell you the truth, a little rally caused by resolution of the fiscal cliff. there may be...
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the markets are looking for some direction after fiscal cliff negotiations stall. we get the word from the nyse floor, next on what you should be watching in today's session. later on, the anti-tax man himself is here to tell us about how he feels about the latest developments in the fiscal cliff negotiations. what a wild ride here we've seen all morning long. right now the dow up about 25. >>> welcome back to "squawk on the street." i'm john harwood in washington. i want to bring you up to date on the latest of the talks between vice president biden and mitch mcconnell. there's some concern among democrats who have heard that the income threshold for tax rate increases may be going up to 400, 450, $500,000. a source familiar with the talks just phoned me to say the democrats are only considering that under a couple of conditions. one is that if the threshold goes up to that level, the top income tax rate would go all the way back up to the clinton era rate of 39.6%. not some mid point of 37% talked about a couple of weeks ago. secondly, that it would be accompanie
the markets are looking for some direction after fiscal cliff negotiations stall. we get the word from the nyse floor, next on what you should be watching in today's session. later on, the anti-tax man himself is here to tell us about how he feels about the latest developments in the fiscal cliff negotiations. what a wild ride here we've seen all morning long. right now the dow up about 25. >>> welcome back to "squawk on the street." i'm john harwood in washington. i want to...
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the fiscal cliff will cost those making 75 and 100 grand more than $3500. and while those making between 200 and 500,000 will be paying about $14,000 more. if you make more than $500,000, a year, get ready to pay roughly an extra $35,000. if you make over one million, your tax increase will be near $216,000. gregg: lots of numbers, lots of digits there. wow!. wow! so how much progress is being made to avoid all of what you just saw? we'll ask california congressman buck mckeown when he joins us live a bit later on in the hour. heather: and as i mentioned at the t the show, thousands of first-responders they're gathering in webster, new york, right now to pay tribute to tomascz kaczowka. sorry, tomascz kaczowka. funeral services are just getting underway. the 19-year-old volunteer firefighter shot and killed while responding to a christmas eve fire that turned out to be an ambush. police say that gunman william spengler set the fire and then shot and killed him along with his fellow firefighter and mentor mike kiapirini. thousands gathered to say good-bye to
the fiscal cliff will cost those making 75 and 100 grand more than $3500. and while those making between 200 and 500,000 will be paying about $14,000 more. if you make more than $500,000, a year, get ready to pay roughly an extra $35,000. if you make over one million, your tax increase will be near $216,000. gregg: lots of numbers, lots of digits there. wow!. wow! so how much progress is being made to avoid all of what you just saw? we'll ask california congressman buck mckeown when he joins us...
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maybe rg3 can negotiate the fiscal cliff next. we'll be right back with more on "morning joe." humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ >>> all right, there were some sports events that happened over the weekend, and -- >> one or two. >> -- i'm going to toss this to michael steele, who loves the redskins, and they made the playoffs, michael. >> absolutely. hail to the redskins. rg3, alfred morris, boy, they knocked it out of the park. and look, the washington guys like biden and mcconnell can learn something from this, you know? when the quarterback is down, maybe you get a little tailback like alfred morris to come in and help you out, and that's what he did for the skins. awesome game last night. >> all right. ed rendell, i guess we've got rookie quarterbacks matching up next
maybe rg3 can negotiate the fiscal cliff next. we'll be right back with more on "morning joe." humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ >>> all right, there were some sports...
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. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two sides, but negotiations continue. there's still time left to reach an agreement. and we intend to continue negotiations. >> and so, here we are, new year's eve, and the country counts down to popping champagne corks, the ball dropping in times square, and going over the fiscal cliff. if congress fails to act in the remaining hours of 2012, taxes will go up on all americans and a series of mandatory government spending cuts will kick in. hello, new year. hello, new recession. after two years of missing self-imposed deadline after self-imposed deadline, all eyes were on the senate over the weekend as the house's failure to even bring a plan to a vote left it up to the upper chamber to find a way out. vice president biden who had remained on the sidelines in this r
. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two sides, but negotiations continue. there's still time left to reach an agreement. and we intend to continue negotiations. >> and so, here we are, new...
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joe manchin as congress prepares to meet again today with the fiscal cliff looming. good morning. the deadline is here and the countdown is down two hours instead of days. the first time since 1970, congress is meeting between the christmas and new year's holiday. preparations are underway as lawmakers -- if lawmakers fail to act. we are 17 hours until the deadline. midnight is the deadline east coast time. here are the numbers. host: also, send us an e-mail and jonas on facebook, -- join us on facebook or you can send us a tweet. let's take a scan of the headlines and we begin with "the atlanta journal-constitution." a lot of talking but still no votes. the deadline has come and gone. one last day for a fiscal deal is the headline from "the boston globe." we are also keeping an eye on wall street. the markets are queasy. from the headlines "the wall street journal." host: a lot of activity on the house and senate chamber. we will be falling all of that on the c-span networks. we have the deputy white house editor from politico. tell us where we stand. guest: we stan
joe manchin as congress prepares to meet again today with the fiscal cliff looming. good morning. the deadline is here and the countdown is down two hours instead of days. the first time since 1970, congress is meeting between the christmas and new year's holiday. preparations are underway as lawmakers -- if lawmakers fail to act. we are 17 hours until the deadline. midnight is the deadline east coast time. here are the numbers. host: also, send us an e-mail and jonas on facebook, -- join us on...
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can it about get passed in time to avoid the fiscal cliff? >> i'm not optimistic that it can get through the house. if there's a deal of 75, 80 senators voting for it, which is what mcconnell and biden are trying to construct here, it's not a deal that would just get over 60 votes but something bigger than that, the house would have to put it on the floor and it probably passes and probably gets over the finish line. you know, that's where i'm not sure we get a deal. is the political will there among house republicans? i know what mitch mcconnell believes is in the best interest of the republican party. i don't know if john boehner and mitch mcconnell are in sync on believing that the tax issue should completely be taken off the table. if there's no deal today, they'll cut taxes in three days when there's a new congress. >> focusing back on the senate, how important is vice president biden? >> the only person with any sort of warm relationship with mitch mcconnell is joe biden. the president doesn't have one. harry reid and mitch mcconnell do
can it about get passed in time to avoid the fiscal cliff? >> i'm not optimistic that it can get through the house. if there's a deal of 75, 80 senators voting for it, which is what mcconnell and biden are trying to construct here, it's not a deal that would just get over 60 votes but something bigger than that, the house would have to put it on the floor and it probably passes and probably gets over the finish line. you know, that's where i'm not sure we get a deal. is the political will...
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the problem is, you know, we created this fiscal cliff to make some tough decisions. and none are going to be made. not one. and so we're going to end up carrying this on now to the debt ceiling, which will be serious. i mean, that will be a serious moment. and our economy is not going to be what it could have been. i mean, we should have made all these decisions. this has been going on now for 24 months. and so this is going to be a disappointment no matter what. we'll eke by this. but then the real discussions will begin. that's why i wrote the letter yesterday to the president saying, look, you know, it would actually be really helpful to our nation and the dialogue if you would lay out what these are. lamar alexander and i put a bill in this week, raising the debt ceiling by $1 trillion with $1 trillion worth of entitlement reforms, but the president has a list that would be very helpful. but there is no list. >> let me ask you about that. because we hear a lot from the republican saying the president you need to lay out entitlement -- >> which i did last week. >>
the problem is, you know, we created this fiscal cliff to make some tough decisions. and none are going to be made. not one. and so we're going to end up carrying this on now to the debt ceiling, which will be serious. i mean, that will be a serious moment. and our economy is not going to be what it could have been. i mean, we should have made all these decisions. this has been going on now for 24 months. and so this is going to be a disappointment no matter what. we'll eke by this. but then...
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. >> dave: what going over the fiscal cliff means for military familis and why they will be hit hard. veteran of the iraq and stan tan explaining next. >> clayton: kim kardashian and kanye west and a baby. they are pregnant. it wasn't posed to happen? hum. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. so we created the extraordinarily comfortable sleep number experience. a collection of innovations designed around a bed with dualair technology that allows you to adjust to the support your body needs - each of your bodies. our sleep professionals will help you find your sleep number setting. exclusively at a sleep number stor
. >> dave: what going over the fiscal cliff means for military familis and why they will be hit hard. veteran of the iraq and stan tan explaining next. >> clayton: kim kardashian and kanye west and a baby. they are pregnant. it wasn't posed to happen? hum. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex,...
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will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real que
will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress...
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fiscal cliff. a look at the biggest money stories of the year. >>> and later this hour, the ten most intriguing people of 2012 as chosen by you. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am i on the naughty list again? ho ho ho! when i'm ou
fiscal cliff. a look at the biggest money stories of the year. >>> and later this hour, the ten most intriguing people of 2012 as chosen by you. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable...
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once the fiscal cliff gets resolved, we think there will be more momentum on the hiring front. hiring will lead to further consumption gains and that will encourage firms to invest. that's how we get the virtuus cycle started. >> new nuclear yar is a completely different issue. the costs there could be quite considerable. i think now with the market prices that you have, you're looking at a situation where governments, just like in the uk, have to come one a support mechanism to make that economically viable. so i think that's going to be the saying across the world. that is quite expensive here in europe. i don't necessarily see europe as a whole changing its mind and going from nuclear. if you take germany, for example, why did they change their mind? obviously, there were safety concerns but probably more importantly, it was to do with the ballot box. there was quite a bit of opposition, people out on the streets protesting and in the end of the days, the politicians decided to take what i considered to be a political course rather than an economic one. >> i don't think we w
once the fiscal cliff gets resolved, we think there will be more momentum on the hiring front. hiring will lead to further consumption gains and that will encourage firms to invest. that's how we get the virtuus cycle started. >> new nuclear yar is a completely different issue. the costs there could be quite considerable. i think now with the market prices that you have, you're looking at a situation where governments, just like in the uk, have to come one a support mechanism to make that...
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so we know what we're dealing with, and i think it affects us righ now in t fiscal cliff negotiations because we are not going to do anything unless it is bipartisan. we will not be able to pass anything in the house that doesn't have significant republican votes in the senate, and the democrats in the senate are not going to be able to support something that won't require some votes of democrats in the house. so we are together, maybe it's like a dysfunctional family, but we do have to work together because withoutipartisanship, nothing is going anywhere. therefore, i think you have to go back to negotiations01. which is that someone in a negotiation has to win some and lose some. the other party in a negotiation has to win some and lose some. the president is not going to get everything he wants. the republicans in the house and senate are not going to get everything we want. nor are the democrats in the house and senate. so we have areas where we can come together, and i've seen it. all of u we talking in the last couple of hours about how we have talked to our counterparts on the
so we know what we're dealing with, and i think it affects us righ now in t fiscal cliff negotiations because we are not going to do anything unless it is bipartisan. we will not be able to pass anything in the house that doesn't have significant republican votes in the senate, and the democrats in the senate are not going to be able to support something that won't require some votes of democrats in the house. so we are together, maybe it's like a dysfunctional family, but we do have to work...
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up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? re, ♪ ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> every time we come to a solution it was a year and a half ago in the summer right now the republicans walk away. >> don't automatically assume the president wants to cut a deal. i think he wants to wait to see if he gets blamed for it before he starts really negotiating. >> nobody can get 100 percent of what they want. this is not a contest between parties in terms of who looks good and who doesn't. >>> the real consequences to what we do. >> fox news contributor and democratic pollst
up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? re, ♪ ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about...
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i yield the floor. >> next, joe manchin talking about his plan for the fiscal cliff. their diligent work. they have committed themselves to this work and i appreciate it and they keep us all informed. mr. president, i rise today frustrated, embarrassed and angry. it is absolutely inexcusable that all of us find ourselves in this place at this time, standing on the floor of the senate in front of the american people hours before we plunge off the fiscal cliff. with no plan and no apparent hope. but here we are ande have got to do something. if we're as determined to go over the cliff as we seem, we've got to do something to soften theanding because at the bottom of the fiscal cliff, our our -- are immediate and massive tax increases, deep and indiscriminate spending cuts and the risk of another recession. so as we come down on the final hours, we have two choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i c
i yield the floor. >> next, joe manchin talking about his plan for the fiscal cliff. their diligent work. they have committed themselves to this work and i appreciate it and they keep us all informed. mr. president, i rise today frustrated, embarrassed and angry. it is absolutely inexcusable that all of us find ourselves in this place at this time, standing on the floor of the senate in front of the american people hours before we plunge off the fiscal cliff. with no plan and no apparent...
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coming up next, how the masse gains in the fiscal cliff could impact your 401k and the economy. stay with us gerri: big tax hikes set to t@7 gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax poicy studies the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to 23.8%. i talked to a lot of my friends and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and cada -- they are only 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growth of economy and entrepreneurship and high-technology industries. gerri: so what if we compare favorably with a l
coming up next, how the masse gains in the fiscal cliff could impact your 401k and the economy. stay with us gerri: big tax hikes set to t@7 gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax poicy studies the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to...
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fiscal cliff, lawmakers on capitol hill today, leaders say no deal is in sight. >> happy new year. >> reporter: the house and senate back to work for a rare sunday session, trying to figure out the fiscal cliff negotiations. a lot of talk. very few solutions so far. >> our membership is as frustrated as the american people we're sworn to serve. >> none of the votes we'll be casting today have nothing to do with the deadlines we face in slightly more than 24 hours. we're here, we're ready. >> reporter: president obama sitting down for his first sunday morning talk show interview in over three years told nbc it's time for lawmakers to nail down a deal. >> we don't yet see an agreement, and now the pressure is on congress to produce. >> reporter: republicans and democrats going back and forth behind closed doors, working through the night, trying to avoid some of the most painful tax hikes and spending cuts in our nation's history. >> there's still significant distance between the two sides. but negotiations continue. >> reporter: a possible sign of progress came when vice president joe
fiscal cliff, lawmakers on capitol hill today, leaders say no deal is in sight. >> happy new year. >> reporter: the house and senate back to work for a rare sunday session, trying to figure out the fiscal cliff negotiations. a lot of talk. very few solutions so far. >> our membership is as frustrated as the american people we're sworn to serve. >> none of the votes we'll be casting today have nothing to do with the deadlines we face in slightly more than 24 hours. we're...
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i hope so. >> next, talking about the fiscal cliff. john thune. >> thank you for the update. midafternoon today, senator john thune spoke with reporters on where things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a huge deal out of changing this and republicans are very concerned that it should not be used as an offset to reduce or replace some of the spending cuts that would occur and democrats put forward an alternative. this is a process. there's a lot of give-and-take going on. republicans do not want to see new revenue, democratic tax increases, being used for new spending. that is where many members are drawing the line. >> you all wa
i hope so. >> next, talking about the fiscal cliff. john thune. >> thank you for the update. midafternoon today, senator john thune spoke with reporters on where things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but...
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up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. i wish i could keep it this way. [ male announcer ] now you can. with the crest pro-health clinical line. used together, they help keep your teeth 97% as clean as a dental cleaning. the toothpaste actually reduces plaque. and the rinse reaches all areas and is clinically proven to help prevent plaque regrowth. crest pro-health clinical line. together, they help keep your teeth 97% as clean as a dental cleaning. crest. life opens up when you do. ♪ >> this country is about to take a plunge over the fiscal cliff. who is real
up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the...
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if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >> there's a significant difference of opinion in the political ramification of what happens if we go over and it comes down debt ceiling. if we go over the fiscal cliff they have all of the leverage because we'll go into the debt ceiling and it will be just like 2011 again. they'll say we're not going to raise the debt ceiling unless you cut entitlements, barack obama will say no and terrified of consequences of national default he'll say yes. so they'll get all of the entitlement cuts with no tax incr
if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens...
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Ñe >>> let's face it, fiscal cliff has most people outraged. we asked for you to send in your thoughts on this matter, and boy did you ever do it. we opened up a can of worms when we did this. joining us from orlando, and we received lots of feedback from our eye reporters, terry, i want you to listen and get your reaction to one of them who holds nothing back, calling lawmakers spoiled brats. >> this whole fiscal cliff mess shows how incredibly out of touch you are with the way people really live in this country. you are off in la-la land and everyone's saying how you're acting like a bunch of spoiled brats who are more interested in being right than doing the right thing and actually representing the people who elected you. >> understand why she's upset, because most americans -- i don't know, do you think most americans have an idea of what all this fiscal cliff chatter means? >> oh, yes. oh, yes, don, i think people have a very, very good idea, and it's not just a selfish idea, either, about they'll have less money in their paychecks as com
Ñe >>> let's face it, fiscal cliff has most people outraged. we asked for you to send in your thoughts on this matter, and boy did you ever do it. we opened up a can of worms when we did this. joining us from orlando, and we received lots of feedback from our eye reporters, terry, i want you to listen and get your reaction to one of them who holds nothing back, calling lawmakers spoiled brats. >> this whole fiscal cliff mess shows how incredibly out of touch you are with the way...